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. >> saying hello to scott. that's good. >> so in terms of the challenges, we've got the debt ceiling debate coming. i guess my question is are we going to be able to get in this market at better levels? do i want to wait and take to the sidelines and wait for a nice decline to actually buy because it definitely does feel like this market wants to go up. do i want to go in now or wait for a selloff? >> when the market pulls back a little bit, politicians are committed to provide volatility and uncertainty in this market. europe, experts at it and americans are learning pretty quickly in washington so as we move into the policy turmoil opportunities you'll get a chance to get in from a valuation perspective, but longer term as americans, this is the first time we've ever had a dialogue about how to actually create a fiscally stable country so we'll get better at this as it goes. if i want to be modestly bullish it's great that we're having this debate because 10, 15, 20 years from now we'll look at a more stable financial situation. >> that being said, i think the market if it pulls back, i d
it probably extends at least to the weekend press cycle when the debt ceiling debate will most likely reemerge, but i think the fundamentals for tomorrow are strong. you'll see some carry forth in commodities and equities. treasury supply is right out of the way, so treasuries might bounce a little bit ahead of the fed buyback program next week. but earnings so far have come out pretty solid. expectations are ratherrer modest given the fiscal cliff from last quarter and earlier this month. so really i think we'll probably trade a little higher tomorrow, but you could see some profit taking the last hour or so. ashley: all right. john brady, rj o'brien managing director. thank you so much from the cme. let's bring in our market panel now, david fleischer and jack ablin. john just said, look, so far earnings have been, well, solid, but let's face it, the bar is pretty low, so i don't know how much you can read into that. you are moderately bullish. so what is your expectation for the first quarter and the rest of the year? >> well, i'd say overall for the year we are cautiously optimistic. we th
. no learning curve. he is dropping right into the debt ceiling debate. very weird because geithner's leaving. he's got to get into it. for the immediate problem he seems eminently qualified, michael. >> heck of a job. his tenure at citigroup, he was at city group, has raised concerns in some quarters. the coo, chief operating officer, of the alternative investments unit. >> yes. >> but that basically was a unit that bet against homeowners paying their mortgage, picked up a nice million-dollar bonus check. citi was bailed out. how's that going to go over? >> that's going to come up. on one hand, you could say, hey, i understand wall street, i understand how it worked. i was in on that, as well. clearly he'll get tough questions. i don't think he's in for a rough ride in the nomination process, confirmation process. it's the treasury secretary the president's going to largely get who he wants. but it's funny because the general response on wall street isn't that he was one of us. it's that he hasn't had much wall street experience. they don't like him that much. they don't feely had has a good
-- i don't think it is a debt ceiling debate. i think it is a data debate. republicans have a simple message, do we want more or less debt? we want less, they want more. i think that they have public opinion on their sides. it doesn't matter if they are not going to use the leverage. i'm not convinced well there are some republican leaders that argue dlin is a losing argument important the republicans. but government shutdown and funding the government is a better leverage pull. do you fall into that camp or not? >> well, i think they are linked. i think that's their leverage. >> you think that should link it? >> yes, i think they should. because -- otherwise, they have no leverage. and so -- i don't -- you know, what we are going to ad row indicate is responsible behavior and the trick that republicans have to do is to find responsible behavior and pass something that is good enough and exchange to raise the darlene. i think that that's what they have to do. do i think the public opinions on their sides and -- you know, it is irresponsible to use this as their leverage. what's more
and the looming debt ceiling debate. but there really is more on his plate, including immigration reform and student loans and possible supreme court vacancies. how do we expect president obama to handle these very large matters and what are his priorities going to be in his second term agenda? kelly has been writing about this welcome inside "the war room." >> happy new year. >> jennifer: happy new year to you, too. always delightful to have you. you've been working on the issue of the second term and what is looming. kelly, today the conservative chamber of commerce said immigration reform is one of their top priorities. don't you think that's a huge gift to president obama's hopes to achieve immigration reform in this new congress? >> you know what is the biggest gift to president obama for immigration reform, the election. the election. because i'm sorry, when i heard that sean hannity was open to immigration reform, i wasn't sure if i was on that episode of "seinfeld" where everything was in bizarro world. we've crossed over into a new america. immigration reform is no long arrest p
side is coming out. what advice do you have especially as relates to the debt ceiling debate coming up for republicans? i don't think they handled-- they didn't negotiate. >> have to get off taxes, we're finished with that and we shouldn't vote for more tax increases, finished with debates over taxes. the debates have to be how we reduce spending and republicans should pass bills. >> sean: one after another. >> reducing spending, take the risk that people get angry at us for certain special interest groups are getting upset cutting this, and a realistic picture how to reduce the deficit and dare the senate to vote for it. >> sean: and only essential areas of government get funded. shut it down until the president-- >> everyone agrees except the more radical left wingers the big problem we have is out of control spending so let's attack that problem, not politically, but in a substantive way and presenting legislation that cuts spending and balances the budget and then dare the senate to vote against it. >> sean: all right. mr. mayor, good to see you. appreciate you being with us. >> go
you can expect to see these confirmation hearings will be a proxy for the looming debt ceiling debate and other debates going forward about the administration's fiscal plan. >> woodruff: jared, whator all does this choice say about what the president's priorities are when it comes to the economy? >> i think it says two things. one is that the president wants jack lew there for these upcoming fiscal deadlines. the sequestration, the debt ceiling, things like that. he knows that jack is not just a tough negotiator and i think this next point has gotten mixed he's a successful negotiator. i know republicans are complaining because he took a tough line back in 2011 with a lot of tea party folks but in fact he's been closing deals for 30 years the second thing is jack understands what it means, a very important part of the president's second term agenda. he understands what it means to get our debt on a sustainable trajectory. there's a lot that has to happen for that to occur. we've gotten a good chunk of the way there but in order to complete the deal so that our debt stabilizes over the
under president obama. does this please help him and that debt ceiling debate which he will be a key figure in if he is nominated? >> i think the president is nominating him for the debt ceiling, entitlement and tax reform debates. this is exactly why jack lew is being capped. cheryl: jack lew has come out in the past and spoken publicly about debt reduction. that does not seem like something the president wants to address. he will be looking for more revenue to address the debt ceiling. can he effectively as a guest to his boss while managing the expectations of republicans? >> that is one of the fundamental problems here. i am not saying it is unimportant, but it is of secondary importance of who is president. he is not an independent actor. he put a deal for that was laughable. i think geithner was never given the room to negotiate beyond that. to me, the question is, if jack lew had the authority to negotiate issues, that is a second thing. if the president sent them off with no ability to negotiate and the president starts with we do not have a spending problem and it is all rev
running. the debate is about the debt ceiling. ke sequester and budgets. no learning for lew. he is qualified to take on the budget battles about to engulf washington right now. on the money menu, china sees trade soar in diagram. before you change the channel, understand that china's gain is a sign that things are picking up here in the united states. exports jumped 14% at the end of the year compared to 12 months ago. that's important because the economy has been slowing down for seven quarters likely because of malaise. i have been saying things are starting to look up for the u.s. economy in 2013 and a boost in imports is one of the indicators that tend to confirm the sentiment. the one thing that could ruin this is the battle on capitol hill. democrats and republicans resulted to tactics that cost the u.s. the iron clad credit rating. the economy suffered. president obama will want the tax revenue hikes to any spending cuts that republicans insist on. to do that they would have to tap into politically sensitive deductions and for perspective, the deducks and exclusions cost
of sequestration to the debt ceiling debate. now, you know, some in congress have said for every dollar increase in the debt ceiling we want a dollar in spending cuts. by the way, sequestration is a result of that same philosophy the last time we hit the debt ceiling. the republicans in congress at that time said that they wanted spending cuts to equal the amount of increase in the debt ceiling. congress could not agree on what specifically to cut for that full amount, so we came up with sequestration as a forcing function to make that happen. so these are, sequestration cuts are cuts leavitt over from the previous debt ceiling increase. now we're facing another moment where every to increase the debt ceils. if you want to increase the debt ceiling enough to give us about a year of operating time, that'd be about a trillion dollars. if you want to completely offset the cuts in sequestration with other deficit reduction, that'd be another trillion dollars. putting these two on the same timeline doubles the problem. i'm not confident congress can come up with another $2 trillion in deficit reducti
the debt ceiling debate on capitol hill. a trillion dollar platinum coin? this was mentioned by a new york times economist. a loophole could have the coins that could be deposited to pay the nation's bills. the white house says they are not taking it seriously. nice idea though. >> wish i had one. it is 8:27 right now. it's a thursday morning and still ahead at 8:00, shut out the baseball hall of fame decides not to induct any players. why everyone struck out. >> dc's mayor says there's some talk about the redskins moving back into the district. that comes with a catch about the team's name. we'll be right back. >>> defense secretary is welcome being to the pentagon in about an hour and a half. then meeting secretary of state hillary clinton and have dinner at the state's apartment tonight. sits down with president obama tomorrow at the white house. talking about how many u.s. troops will stay in afghanistan. >> a u.s. drone in pakistan killed five suspected militants overnight. happened in the northwest tribal area which is a main hide out. the missile attack is the 7th one in the last co
ties any resolution of sequestration to the debt ceiling debate. some in congress have said that for every dollar increase in the debt ceiling, we want a dollar in spending cuts. sequestration is a result of that last -- of that philosophy the last time we hit the ceiling. they wanted spending cuts equal to the raise in that that ceiling. congress could not agree. that is why they came up with sequestration. sequestration cuts are cut left over from the previous debt ceiling increase. now we are facing another moment where the debt ceiling needs to be increased. if you want to increase it to give us a year of operating time, that would be about 3 trillion dollars. putting these on the same timeline doubles the problem. i'm not confident that congress can come up with another 2 trillion dollars in deficit reduction by that deadline. with the fiscal cliff, relative to what would have happened if all of those programs had been extended, what they ended up passing reduce the deficit by less than one trillion dollars. look at how hard that was to achieve. less than one trillion d
to the debt ceiling debate that we are going to be having. he hhs been intransigent, certain republicans down it came to any sort of meaningful spending cuts in the fiscal cliff. ashley: giving her the last word, do you think jack lew is the man? >> i do. negotiating tip o'neill and ron reagan, newt gingrich and bill clinton. this is someone who knows how to bring both sides together and get a deal done. ashley: we have to leave it there. thank you so much, kate obenshain and penny lee. thank you for joining us. >> thank you. ashley: always want to debate. tracy: sure is. ashley: lots to talk about. tracy: for a while now. a valentine's day, which, a lot going on. all right. cheryl take as to the last hour "countdown to tmyhe closing bel" is next. ♪ i honestly loved smoking, and i honestly didn't think i would ever quit. [ male announcer ] along with support, chantix is proven to help people quit smoking. it reduces the urge to smoke. it put me at ease that you could smoke on the first week. [ male announcer ] some people had changes in behavior, thinking or mood, hostility, agitation, depr
will be short to snatch that to defeat from the jaws of that victory with a massive and messy debt ceiling debate. >> thank you, steve. >> sure my pleasure. >> thank you, rick. >> what are you going to say for the next 90 days then? >> i got nothing. >> when we come back we will be monitoring the ecb president mario draghi's news conference. we'll bring you the highlights as we get them. plus a retailer that is getting hard-hit. on weaker than expected holiday sales. i don't spend money on gasoline. i am probably going to the gas station about once a month. last time i was at a gas station was about...i would say... two months ago. i very rarely put gas in my chevy volt. i go to the gas station such a small amount that i forget how to put gas in my car. [ male announcer ] and it's not just these owners giving the volt high praise. volt received the j.d. power and associates appeal award two years in a row. ♪ we replaced people with a machine.r, what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally.
not changed. let's be clear. congress has the responsibility and the sole authority to raise the debt ceiling. congress must do its job. lou: the administration does appear willing to go around congress to enact at least some gun-control measures. we will be debating tonight the administration's efforts to broaden and control in this country, talking with former birdie campaign president richard a. bourne in constitutional law professor david. vice-president joe biden today met with victims and gun-control advocates and stress the administration's determination to take action on gun-control, even by its executive order. it is the first of a series of meetings that the president's second amendment point man. fox news chief political correspondent carl cameron with our report. >> vice-president opening his first task force meeting on gun violence with victim's aunt and safety groups and somberly recalled the shooting rampage that killed 27, including 20 children at a new town connecticut elementary school last month. >> touch the heart of the american people. seeing those young children riddled
it in light of the upcoming fight and debate over raising the debt ceiling and ongoing spending in this country. jenna: what new ideas will you present to jack lew if the nomination does go through to solve the problems that you're mentioning? >> well, there are a couple of things, and when you take a rook at the upcoming debt ceiling, you know, i think it'd be really good if the senate actually passed a budge. the senate of the united states hasn't passed a budget inover three years. harry reid has held the american public hostage by not presenting a budget. i know the white house is running behind in their budget proposal. the white house budget proposal last year got no republican votes and got no democrat votes. so if we want to look at what's best for our country in the future, we have to look at dealing with the spending from the standpoint of our own national security. we are vulnerable right now -- jenna: there's no accountability, right, senator? this has been going on and on, and so far there's to budget, and there's no budget. what can the american people do? what wil
guns and the debt ceiling. representative peter welch of the great state of vermont joining us. good morning, representative. >> good morning. >> stephanie: i have hope this is going to play out differently. am i misguided. >> well, it's worthy of worry, and i'll tell you why. the republicans used this successfully. we blew it in august when we allowed them to make a link between negotiations and our obligation to pay bills, and it did real damage. we had our first credit downgrade, so they have been em-boldened -- >> stephanie: what you just said. for people screaming about debt and the deficit just what you said i hope people digest that. >> that's right. the power to default is really the power to destroy. and they have the votes to do it, but the question is do they have the restraint not too. if we do this, number one moody's has already said we'll have another credit downgrade. and if interest rates on our debt go up by a percent, that's a trillion dollars added to the taxpayer burden, so any quote, good that they think they can do will be way offset by t
and the congress about about how to raise the debt ceiling. this is 15 minutes. >> ladies and gentlemen, the president of the united states, accompanied by tim geithner and jacob lew. >> good afternoon, everyone. please have a seat. a little more than four years ago i stood with mr. tim geithner, the first nominee to my cabinet. we were two months into the financial crisis. the stock market had cratered. bank after bank was on the verge of collapse. worst of all, more than 800,000 americans would lose their jobs in just that month. at the bottom was probably not yet in sight. i could not blame tim when he told me he was not the right guy for the job. [laughter] but on news that tim's extensive experience with economic policy made him eminently qualified and i knew he could hit the ground running. as chairman of the federal reserve, he had just spent chaotic weeks emerged in the crisis and had been working with the treasury to save the financial system. then with the wreckage of our economy still smoldering, i asked tim to help us put it back together. thanks in large part to his steady
Search Results 0 to 26 of about 27 (some duplicates have been removed)